Latest Articles in Management

Sharp decline in wholesale impacts Geox results

Geox reported first quarter sales of 193.6 million euros, down 13.5 percent or 11.7 percent at constant exchange rates due to the performance of the wholesale channel and franchising, partially offset by the positive trend of the digital DOS channel. Considering the uncertain geopolitical and macroeconomic short-term scenario, the company...

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Tory Burch names new president of North America

American luxury fashion and lifestyle brand Tory Burch is bolstering its leadership team with a new president of North America, a chief people officer, and a president, chief merchandising, and global supply chain officer. Christophe de Pous, a seasoned global executive, will join Tory Burch as president of North America on June 3. He joins from...

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Zalando co-founder David Schneider steps down as Co-CEO

European fashion and lifestyle e-tailer Zalando has confirmed that its co-founder David Schneider is stepping down as co-chief executive officer to focus on group-wide strategic partnerships and brand relations. Schneider is handing over his role as co-chief executive officer to David Schröder, Zalando’s current chief operating officer, who has...

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Veste reports 2.7 percent drop in Q1 revenue

Veste, a company in the high-end clothes and accessories segment in Brazil, reported gross revenue of 312.6 million Brazilian real in the first quarter, down 2.7 percent. The company’s adjusted gross profit of 158.2 million Brazilian real, declined 6.8 percent with adjusted gross margin of 62.9 percent, down 1.1 p.p. First quarter adjusted...

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The Very Group names Nadhim Zahawi as non-executive chair

British e-tailer The Very Group, which operates digital retailers Very and Littlewoods, has appointed YouGov founder, former senior government minister and MP, Nadhim Zahawi, as its non-executive chair and board member. Zahawi, who has served in some of the most senior and high-profile ministerial roles in the British government, including as...

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HanesBrands Q1 sales decline, maintains outlook

HanesBrands net sales of 1.16 billion dollars were at the midpoint of the company’s expected range, a decrease of approximately 17 percent. On an organic constant currency basis, net sales decreased approximately 15 percent compared to last year. However, operating profit and operating margin in first-quarter were 52 million dollars and 4.5...

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Volatile China market impacts Salvatore Ferragamo's Q1

Salvatore Ferragamo Group’s revenues of 227 million euros were down 18.3 percent at current exchange rates and 16.6 percent at constant exchange rate. In a statement, the company attributed the negative DTC performance to January trading and a volatile consumer environment in Greater China. The wholesale channel, Ferragamo added, was penalised...

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My Wardrobe HQ merges with Cercle

Luxury rental and re-commerce platform My Wardrobe HQ has announced its merger with fellow UK-based fashion rental and resale platform Cercle, which focuses on unique luxury and vintage items. The strategic merger is to expand its global presence and enhance its offering, explained My Wardrobe HQ in a statement, as it looks to form a global...

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Wolverine Worldwide Q1 revenues drop 34 percent, names new CFO

Wolverine Worldwide revenues of 394.9 million dollars declined 34.1 percent or 34.6 percent on a constant currency basis. Revenues from the ongoing business were down 24.5 percent or 25.1 percent constant currency to 390.8 million dollars. Gross margin for the quarter improved 650 bps to 45.9 percent, while adjusted gross margin improved 250 bps...

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Boohoo posts revenue and profit decline in FY24

Boohoo Group GMV was down 13 percent to 1,809 million pounds for the fiscal year 2024, as group performance continued to be impacted by a difficult macroeconomic environment. The company said that revenue for the year of 1,461 million pounds, declined 17 percent reflecting increased focus on profitability and difficult market conditions. Boohoo...

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Puma reports marginal first quarter sales growth

Puma Puma sales increased by 0.5 currency adjusted to 2,102.3 million euros in the first quarter. Supported by the continued brand momentum and despite ongoing geopolitical and macroeconomic challenges, Puma expects to achieve mid-single-digit currency-adjusted sales growth and an operating result (EBIT) in the range of 620 million euros to 700...

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Crocs posts Q1 growth, names Susan Healy as CFO

Crocs, Inc. first quarter revenues were 939 million dollars, an increase of 6.2 percent or 6.9 percent on a constant currency basis with direct-to-consumer (DTC) revenue growth of 11.8 percent or 12.3 percent on a constant currency basis and wholesale revenue increase of 3.2 percent or 4.1 percent on a constant currency basis. The company also...